📉 *Stock Market News,
Dow and Dollar Drop on Jitters Over Fed and Trade
Gold hits a fresh record and investors weigh the Trump administration's threats to remove Fed chief Jerome Powell
On Friday when markets were closed, National Economic Council Director Kevin Hassett underscored the White House's displeasure with Powell, saying officials were studying his removal.
An early set of data from trade bellwether South Korea showed a big drop in exports to the U.S. this month.
Major stock indexes were down Monday, with the Nasdaq taking the biggest hit, falling around 2.6% after earlier being down 3% and more.
1) Big tech shares fell, led by Tesla, Nvidia and Apple.
2) The ICE U.S. dollar index, a measure of the dollar against a basket of major currencies, slipped more than 1% to its lowest level in three years. The dollar hit fresh lows against the euro, pound, yen and Swiss franc.
3) Treasury yields rose, with the 10-year up to 4.404%.
4) Gold surged to over $3,400 a troy ounce, a new record. Bitcoin rallied.
5) Japan's Nikkei dropped 1.3%. China's CSI 300 rose 0.3%.